The Process of Buying a Home in Clearlake, CA

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Get Familiar with the Lay of the Land in Clearlake, CA

Thinking about buying a home in Clearlake? Awesome! You picked a lively city with an ideal amount of educational opportunities, businesses, and parks, and we're here to help make your house hunt, purchase, and move more streamlined. We service 3.8 million customers nationwide and are familiar with the ins-and-outs of the Clearlake housing market.

Given all of California's growth, Clearlake homes aren't always easy to find at a comfortable price. Ongoing support for local businesses and cultural growth have helped to attract retirees, new businesses, and young families to the Clearlake area, but so much change also means a strain on housing options, school capacities, and city roads. Despite this, Clearlake and the surrounding areas still offer an array of homes in price and amenities. You can find single-family homes, condos, townhomes, and (fingers-crossed) your perfect home! When looking to buy a house in Clearlake, consider how near or far away the home is from the places you visit most. If possible, test drive your route to work, school, and the grocery store. Your house's location will affect everything, from your morning routine to how you spend your evenings. Traveling around Clearlake will also give you an idea of why homes in west Clearlake are priced differently than homes in east Clearlake, what the neighborhoods are like, and where to find Clearlake's hottest attractions.

Are you financially prepared to buy a house in Clearlake? Reach out to a Mr. Cooper Mortgage Professional if you don't know how to go about answering that question. We think the dream of homeownership should never fade and work to make every stage of the journey more enjoyable and less worrisome. You don't even have to stick with your decision to buy a house in Clearlake. We work with experienced homeowners and first-time homeowners alike. Walk through the following steps to help you determine if you're financially ready to buy a home in Clearlake.

First, calculate how much house you can afford. This will help you set a price range while house shopping in Clearlake. After that, jot down your potential monthly payments (including home repairs, insurance, homeowners association fees, property taxes, etc.). It's okay if these numbers are educated guesses. Everyone's situation will differ, but a quick online search for average expenses in Clearlake will usually point you in the right direction. Remember that the bulk of your monthly homeowner expenses could be your monthly mortgage payment.

Then, look at how much money you can put toward a down payment. A down payment of at least 20% can help increase your odds of getting a good rate and will allow you to avoid private mortgage insurance (PMI). However, the minimum down payment requirements depend on the type of loan. At this stage, getting prequalified for a loan can be extremely helpful. Getting prequalified helps you know how much you might be eligible to borrow from a lender. Also, take a good look at your credit. Credit history is one of the main factors that lenders look at when considering your mortgage application. The healthier your credit is, the more mortgage options you may have open to you— and who doesn't want more choices in life?

It's Go Time! Buy a House in Clearlake, CA

While moving is a universal experience, it remains one of the top stressors that a person can experience in life. But moving can also be incredibly rewarding, especially when you get to live in an amazing city like Clearlake. Contact Mr. Cooper as you prepare to buy a house in Clearlake. We're here for you every step of the way and Mr. Cooper® Real Estate Rewards can even connect you with a top-performing real estate agent who can potentially save you thousands.*

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